Not surprisingly, cryptocurrency and blockchain technology took center stage at South By Southwest (SXSW) this year. The conference organizers publically announced at the end of last year that a “new addition” for the 2018 SXSW lineup would include a series of sessions on blockchain, the technology that powers cryptocurrencies like Bitcoin.

Venues with names like “Initial Taco Offering” and “The Blokhaus” lined the streets of downtown Austin, hosting events daily with well-known individuals in the cryptocurrency and blockchain space. Kicking Off SXSW With Ethereum Co-Founder, Joseph Lubin On Friday of last week, the SXSW festival kicked off with a panel entitled, “Why Ethereum is Going to Change The World,” featuring Ethereum co-founder, Joseph Lubin.

During the session, Lubin explained how he became interested in blockchain technology and his involvement in the Ethereum Project. He also revealed his plans for his blockchain software technology company, ConsenSys.

AUSTIN, TX – MARCH 09: Laura Shin and Joseph Lubin speak onstage at Why Etherium is Going to Change the World during SXSW at Austin Convention Center on March 9, 2018 in Austin, Texas. (Photo by Mike Jordan/Getty Images for SXSW) Lubin explained that when Bitcoin was first invented by Satoshi Nakamoto in 2009, two other creations followed.

First and foremost, Bitcoin led to the creation of blockchain technology, described by Lubin as, “a trustworthy database system, which is a shared infrastructure consisting of trusted actors.” And Blockchain technology, eventually led to what Lubin refers to as, “crypto economics,” which has made it possible to create more things based on blockchain technology. Crypto economics is a way of doing incentivized mechanism design to enable many actors to contribute their resources to validating transactions and securing that network,” Lubin said. Read more from forbes.com…

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